FRANKFURT (Reuters) - Italian broadcaster Mediaset (MS.MI) has increased its direct stake in German counterpart ProSiebenSat.1 Media (PSMGn.DE) to 11.7% from 8.9%, according to a regulatory filing on Wednesday ahead of next week’s annual general meeting.
Including shares controlled indirectly through financial instruments, Mediaset’s overall stake remains at 24.2%.
The Italian company, controlled by the family of former Prime Minister Silvio Berlusconi, has amassed the position as it pushes a strategy of encouraging European industry consolidation.
ProSieben’s June 10 AGM will mark the debut for CEO Rainer Beaujean, whose predecessor Max Conze stood down in late March after a boardroom feud.
Reporting by Douglas Busvine;Editing by Elaine Hardcastle